Zurcher Kantonalbank Zurich Cantonalbank Acquires 76,542 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Zurcher Kantonalbank raised its AMD holding by 12.2%, buying 76,542 shares in Q4 to hold 705,151 shares valued at about $151.0 million.
• Insider selling was notable: CEO Lisa Su sold 85,000 shares (~$16.9M) and EVP Mark Papermaster sold 27,109 shares (~$7.45M), with insiders selling 273,352 shares in the past 90 days and now owning 0.50% of the company.
• Company outlook — AMD has a $453.9B market cap, recently reported EPS and revenue above expectations, is trading near its 52‑week high, and carries an average analyst target of $291 (consensus "Moderate Buy").

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 705,151 shares of the semiconductor manufacturer's stock after buying an additional 76,542 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Advanced Micro Devices were worth $151,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jennison Associates LLC bought a new position in Advanced Micro Devices in the 3rd quarter worth $626,826,000. Wellington Management Group LLP grew its holdings in Advanced Micro Devices by 335.9% during the third quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock valued at $784,330,000 after purchasing an additional 3,735,807 shares during the period. Assenagon Asset Management S.A. grew its holdings in Advanced Micro Devices by 104.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,991,297 shares of the semiconductor manufacturer's stock valued at $1,283,096,000 after purchasing an additional 3,059,935 shares during the period. Nordea Investment Management AB increased its position in Advanced Micro Devices by 203.7% in the third quarter. Nordea Investment Management AB now owns 3,905,148 shares of the semiconductor manufacturer's stock worth $631,892,000 after buying an additional 2,619,294 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Advanced Micro Devices by 56.0% in the second quarter. Rafferty Asset Management LLC now owns 6,772,923 shares of the semiconductor manufacturer's stock worth $961,078,000 after buying an additional 2,430,533 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insider Transactions at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 85,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $198.77, for a total transaction of $16,895,450.00. Following the completion of the transaction, the chief executive officer directly owned 3,146,006 shares of the company's stock, valued at approximately $625,331,612.62. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark D. Papermaster sold 27,109 shares of the firm's stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $275.00, for a total value of $7,454,975.00. Following the transaction, the executive vice president owned 1,267,357 shares of the company's stock, valued at $348,523,175. This represents a 2.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 273,352 shares of company stock valued at $59,173,070. 0.50% of the stock is owned by company insiders.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $278.39 on Monday. The firm has a market cap of $453.87 billion, a price-to-earnings ratio of 105.05, a P/E/G ratio of 1.03 and a beta of 1.96. The firm has a fifty day moving average price of $212.61 and a 200 day moving average price of $221.37. Advanced Micro Devices, Inc. has a fifty-two week low of $83.75 and a fifty-two week high of $281.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.01 and a current ratio of 2.85.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The semiconductor manufacturer reported $1.53 EPS for the quarter, topping the consensus estimate of $1.32 by $0.21. Advanced Micro Devices had a net margin of 12.52% and a return on equity of 8.84%. The business had revenue of $10.27 billion for the quarter, compared to analysts' expectations of $9.65 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business's quarterly revenue was up 34.1% compared to the same quarter last year. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Advanced Micro Devices in a research report on Tuesday, February 24th. Truist Financial set a $283.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, February 4th. Wall Street Zen raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a report on Monday, January 26th. DA Davidson upgraded shares of Advanced Micro Devices to a "hold" rating in a research report on Friday, February 13th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $230.00 price objective on shares of Advanced Micro Devices in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $291.03.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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